Oasis Midstream Partners LP Announces Johnson's Corner Gathering System Open Season
Oasis Midstream Partners LP (NASDAQ: OMP) announced the start of a binding open season for its Johnson's Corner Gathering System Project in McKenzie County, North Dakota. This 7-mile, 8-inch diameter crude oil gathering pipeline will connect the South Nesson field to the existing Johnson's Corner Pipeline. The open season runs from July 7 to August 4, 2021. Prospective shippers interested in committed service must first sign a confidentiality agreement with Bighorn Devco LLC, a subsidiary of OMP. Transportation services on the existing pipeline will maintain current tariff rates.
- Initiation of the Johnson's Corner Gathering System Project, potentially increasing operational capacity.
- Connects new developments to existing infrastructure, enhancing logistics efficiency.
- None.
HOUSTON, July 7, 2021 /PRNewswire/ -- Oasis Midstream Partners LP (NASDAQ: OMP) ("OMP", the "Company" or the "Partnership") today announced that Bighorn Devco LLC ("Bighorn"), a wholly-owned subsidiary of OMP, is commencing a binding open season for the Johnson's Corner Gathering System Project ("Project"), a crude oil gathering pipeline system to be constructed in McKenzie County, North Dakota. The Project is a 7-mile, 8-inch diameter pipeline connecting the South Nesson field development with the existing Johnson's Corner Pipeline.
The open season will commence on Wednesday, July 7, 2021 at 8:00 a.m. Central Daylight Time and will close on Wednesday, August 4, 2021 at 5:00 p.m. Central Daylight Time. Bona fide prospective shippers that seek information on the committed service to be offered on the Project, wish to have access to the open season documents (which consist of an Information Memorandum, Pro Forma Gathering Agreement, and a draft Oil Pipeline Tariff terms and conditions), or want to discuss the Project with Bighorn's representatives, are first required to execute a confidentiality agreement with Bighorn. Transportation service on the existing Johnson's Corner Pipeline system would continue to be provided under existing tariff rates applicable to committed or uncommitted shippers. The confidentiality agreement and open season documents can be obtained by contacting Bighorn using the information below:
Greg Hills, Senior VP, Marketing and Midstream
1001 Fannin Street, Suite 1500
Houston, TX 77002
Telephone: (281) 404-9431
ghills@oasispetroleum.com
About Oasis Petroleum Inc.
Oasis Midstream Partners LP is a premier master limited partnership formed by its sponsor, Oasis Petroleum Inc., to own, develop, operate, and acquire a diversified portfolio of midstream assets in North America that are integral to the crude oil and natural gas operations of Oasis Petroleum Inc. and are strategically positioned to capture volumes from other producers. For more information, please visit the Partnership's website at www.oasismidstream.com.
Forward-Looking Statements
This press release contains forward-looking statements. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Partnership expects, believes or anticipates will or may occur in the future are forward-looking statements. Without limiting the generality of the foregoing, forward-looking statements contained in this press release specifically include the expectations of plans, strategies, objectives and anticipated financial and operating results of the Partnership, including the Partnership's capital expenditure levels and other guidance included in this press release. These statements are based on certain assumptions made by the Partnership based on management's experience and perception of historical trends, current conditions, anticipated future developments and other factors believed to be appropriate. Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Partnership, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. These include, but are not limited to, developments in the global economy, particularly the public health crisis related to the novel coronavirus 2019 ("COVID-19") pandemic and the adverse impact thereof on demand for crude oil and natural gas and our customers' demand for our services. Because considerable uncertainty exists with respect to the future pace and extent of a global economic recovery from the effects of the COVID-19 pandemic, we cannot predict whether or when economic activities will return to normalized levels.
Any forward-looking statement speaks only as of the date on which such statement is made and the Partnership undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Contact:
Oasis Midstream Partners LLC
Bob Bakanauskas, (281) 404-9600
Director, Investor Relations
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SOURCE Oasis Midstream Partners LP
FAQ
What is the Johnson's Corner Gathering System Project by OMP?
When does the open season for the Johnson's Corner Gathering System Project start and end?
How long is the new pipeline being constructed for the Johnson's Corner Gathering System?
Who needs to sign a confidentiality agreement regarding the Johnson's Corner Project?
